You’re ready to up-level and raise those prices (woohoo!) but deep inside your heart you’re freaking out a little….WHAT WILL MY CLIENTS THINK?!
I’ve been there before and the scenario usually goes something like this…
- “They’re totally going to fire me and think I’m hella greedy”
- “Who am I to even think I deserve this much?”
- “I’ll never book a client again!”
- “I might as well not change my prices and avoid the conflict that is inevitable”
- “Screw this I’m getting a regular job”
Our fear sure knows how to freak us out, right?
Don’t stress. Raising prices is part of being a boss (especially an abundant boss) and I’m going to walk you through my step by step guide to communicate a price increase to your clients …without you or your clients freaking out in the process.
Step 1 – Set dates for your new rates
Once you’ve got your new prices in mind, the first step is setting dates for when they’ll come into fruition.
A couple of key questions you need to ask yourself:
- When will I start charging new clients these new rates?
- When will I start charging current clients these new rates?
There’s really not a right or wrong way to do this, so please use your best judgement for making these calls. Usually you’ll want to start charging your new prices to new clients ASAP and current clients may have a transition period…which we’ll get to in a second!
Essentially you’ve gotta pick a date for both questions above and trust yourself.
Step 2 Create your new price action plan
When you’re raising your prices, there’s a few things that come into it. Your new price action plan will help you up-level with ease and most importantly your clients will know what’s going on.
Questions you’ll need to ask yourself:
- Will I be offering a last chance package deal on my current rates to clients? If so, when is the cut off date that they can access this at?
- When do I need to tell my clients about the new rates starting?
After you’ve determined the above, you’ll want to put an action plan together. This usually involves the following:
- Updating your website sales pages to reflect new prices
- Notifying your clients of the price increase
Step 3 – Gently remind your clients of your new prices again
People are busy. It’s your role to remind your clients again of the new price start date and any opportunity they have to buy extra packages at your old rates. This will help keep the lines of communication open and honest.
But, how do I actually tell them I’m charging more?!
I got you. Actually communicating your new rates to your clients shouldn’t be a scary process. It all comes back to the art of communicating with honesty and integrity.
Don’t worry, I have a template you can steal. Feel free to add your own style and personality into this.
Hi [insert client name]
Hope you’re doing well! I’m emailing you with an exciting update to my services that I know will help you with [insert the key solution you provide them]
As my business continues to grow, it’s my mission to deliver the best results I can to support my amazing tribe. I’ve been blessed to support clients like yourself to [insert the key areas you’ve helped them with.]
To continue delivering this value and supporting my clients, [insert the service] will increase to [price] on [start date of new price.]
I have [insert number of spots] remaining spots at the current rate of [insert your price before the increase] that I’d love to offer to you before the price increase is announced officially on [start date of new pricing]
I’m grateful to continue supporting you to [goal / outcome of service you provide] and would be honoured to keep working with you.
If you’d like to secure one of these special spots at the current pricing, let me know and I’ll book you in straight away. If you have any questions I’m just an email or phone call away.
Remember there’s no right or wrong way to handle a price increase, but always lead with your intuition and trust that you’re ready to up-level. Are you ready to raise your rates? Let me know below!